Protecting a home is a matter of safety. No one wishes to go through the horrible experience of an intruder breaking into a property and threatening those inside. Burglars that target residences that are unoccupied may be less of a threat, but they do inflict financial losses by absconding with property. Home security systems can — and do — cut down on losses associated with property theft. The installation of alarms and cameras presents another way in which homeowners may avoid losses. The installation of security systems could cut down on insurance costs.
Insurance Costs and Risks
Homeowner’s insurance is designed to protect against a number of losses. Theft would be among them. Any property that is at a greater risk of loss is going to suffer from higher insurance rates. Homes located on very busy streets are likely to come with more costly premiums than ones in rural areas. More people means more risks. Similarly, if there have been a number of property crimes and thefts in a particular region, insurance policies are sure to be a bit more costly. While not every insurance company is going to lower premiums on properties with home alarm systems, there are some that will. Maybe switching to these less-costly providers would be a good move for homeowners wishing to cut costs.
Home Security Deters Theft
The reason homeowner’s insurance may be reduced when an alarm system has been installed is because thieves want their job to be an easy one. A home that displays a home security system is not exactly making things easy on an intruder. With so many other homes in the neighborhood without security systems in place, it would not make sense for a burglar to break into the one with the cameras, alarms, and motion detector lights.
With such a deterrence in place, the need to file a claim on a policy is reduced. No theft means no claim. With this in mind, it becomes logical as to why home insurance companies would cut down policy costs for those who install security systems. Unfortunately, not every insurance company will do this. Homeowners are advised to perform the necessary research to determine which ones do.
Costs are Saved
The lowered premium costs may end up offsetting the expenses to acquiring a security setup. Home monitoring systems help with cutting costs another way. Filing an insurance claim does not mean the claim will be approved. Homeowners shouldn’t rely on their insurance policy to mitigate theft losses. A deterrence would be the better, less-expensive strategy. So why not install a quality alarm system as soon as possible?